If you participate in the Small Business Health Options Program (SHOP) and have fewer than 25 full-time equivalent employees, you could qualify for savings through the Small Business Health Care Tax Credit! To be eligible for the tax credit, youll generally need to meet each of these requirements: Have fewer than 25 full-time equivalent (FTE) employees Have an average employee salary of $55,000 or less Pay at least 50% of your full-time employees premium costs Offer SHOP coverage to all of your full-time employees (you wont have to offer it to dependents or part-time employees to qualify) Use the calculator below to see if your small business qualifies and how much you could save! The tax credit is highest for businesses with fewer than 10 employees who are paid an average of $25,000 or less. Your savings could be worth up to 50% of your employees premium costs if you qualify. |